RFG Advisory, a Birmingham, Ala.-based platform for independent advisors, secured a growth investment from Long Ridge Equity Partners.
The amount of the deal was not disclosed. The firm will continue to operate under its existing leadership team: Founder and CEO Bobby White, President Shannon Spotswood, and Chief Investment Officer Rick Wedell.
White founded RFG in 2003, with Spotswood and Wedell joining in 2015 and 2016, respectively.
RFG Advisory is an innovator in the wealth management industry delivering a turn-key integrated platform that provides advisors all the tools and resources they need to be the CEO of their practice, not the COO, including turn-key technology, institutional-caliber investment management, marketing, compliance, business consulting and operational support. Additionally, through RFG Capital, the firm buys stakes in advisor practices to facilitate succession planning and provides loans to advisors to enable the move to full independence. It has over $4 billion in assets under management and more than 100 advisors located across 15 states nationwide.
The company intends to use the funds to continue to invest in critical areas of the business, including investment management, technology, marketing/branding, and business development.
FinSMEs
02/08/2023